On Monday, 01-25-10 at 10:00 AM ET 2 USD reports were released, these are the USD Existing Home Sales and USD Existing Home Sales MoM reports, released monthly by the National Association of Realtors.
Probably the most important report of the 2 is the “Existing Home Sales”.
These reports were “stand-alone” reports this time.
I did a “preview” post on Sunday, 01-24-10 for these reports, click here for a review.
Here are the stats for this month:
USD Existing Home Sales stats:
Previous = 6.54 M
Forecast = 5.98 M revised = 5.95
Actual = 5.45
USD Existing Home Sales MoM stats:
Previous = 7.4%
Forecast = -9.8%
Actual = -16.7%
Bad – “actual” came out lower then “forecast” by 6.9%
Bad – “actual” came out lower then “previous” by 24.1%
This “forecast” indicated that there will be an decrease of home sales homes over last months sales.
Here is how I was set up for these reports, and the results:
USD-8-00AM-01-25-10
Looking for a 20K difference
Actual > Forecast = Good for USD
USD Existing Home Sales
——actual———-forecast———-previous
_____5.45M_____5.98M________6.54M
_______________5.95M_____________
Out at 6.15M or Higher – BUY USD/CAD
Out at 5.75M or Lower- SELL USD/CAD
Bad – “actual” came out lower then “forecast” by 53K
Bad – “actual” came out lower then revised “forecast” by 53K
Bad – “actual” came out lower then “previous” by 1.09M
Let’s take a look at the charts and see how things worked out:
a one minute EUR/JPY chart
This EUR/JPY currency pair moved down for 7 minutes about 40 PIPS
Moved up next 22 minutes about 32 PIPS
a one minute EUR/USD chart
This EUR/USD currency pair moved down for 7 minutes about 24 PIPS – wrong direction
Moved up next 26 minutes about 27 PIPS – right direction
a one minute GBP/JPY chart
This GBP/JPY currency pair moved down for 7 minutes about 35 PIPS
Ranged
a one minute GBP/USD chart
This GBP/USD currency pair had minor moves – not much opportunity for a trade of any kind.
a one minute USD/CAD chart
This USD/CAD currency pair minor move up/down 1st 3 minutes – executed 2 trades here
Move up for 3 minutes about 15 PIPS – wrong direction
Moved down next 20 minutes about 27 PIPS – right direction
Both trades came out winners!
a one minute USD/JPY chart
This USD/JPY currency pair move down for 7 minutes about 15 PIPS - right direction
Ranged
The next scheduled release of this report will be Friday, 02-26-10 at 10:00 AM ET. At this point in time the Existing Home Sales reports are stand alone, a month is a long time, re-scheduling can occur any time.
I will probably be writing a “preview” post for this up-coming report.
So, stay tuned!
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